November 2016-Watertown, New York
The FINRA records of Stanley C. Niekras, a stockbroker who was formerly employed by Purshe Kaplan Sterling Investments disclose 7 prior customer disputes that have been resolved and a currently pending regulatory event.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In the currently pending regulatory matter, FINRA case 2013037401001 , FINRA alleges that Niekras attempted to collect $70,000 in estate and financial planning fees from an elderly couple that he was not entitled to.
Niekras told the clients, who were in their 90’s and declining mentally and physically, that he he had spent hundreds of hours working on their estate plan and charged them at the rate of $250 per hour, notwithstanding the fact he had no agreement entitling him to such a fee.
The prior customer disputes include several cases involving variable annuities which resulted in significant six figure settlements.
Niekras, who is not currently registered, was last employed by Purshe Kaplan Sterling Investments from 5/2014-10/2015. Prior to that he was employed by MML Investors Services.
If you have losses in an account in an account handled by Stanley C. Niekras contact us to discuss how you may be able to recover damages for those losses.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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